Royal Bank of Canada Has $115.36 Million Stock Holdings in Unum Group $UNM

Key Points

• Royal Bank of Canada increased its stake in Unum Group (NYSE:UNM) by 0.5%, holding approximately 1.416 million shares worth about $115.4 million.
• Unum Group recently announced a quarterly dividend of $0.46, marking an increase from the previous $0.42 dividend, which represents a yield of 2.5%.
• A majority of analysts consider Unum Group to have a "Moderate Buy" rating, with an average target price of $91.15 based on various recent ratings.

Royal Bank of Canada grew its position in Unum Group (NYSE:UNM - Free Report) by 0.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,416,124 shares of the financial services provider's stock after buying an additional 6,648 shares during the quarter. Royal Bank of Canada owned 0.81% of Unum Group worth $115,358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stratos Wealth Partners LTD. raised its position in shares of Unum Group by 28.3% in the 1st quarter. Stratos Wealth Partners LTD. now owns 3,802 shares of the financial services provider's stock valued at $310,000 after buying an additional 838 shares in the last quarter. Wellington Management Group LLP acquired a new position in Unum Group during the 4th quarter worth approximately $240,000. HighTower Advisors LLC increased its position in Unum Group by 0.3% during the 1st quarter. HighTower Advisors LLC now owns 60,370 shares of the financial services provider's stock worth $4,918,000 after purchasing an additional 201 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Unum Group during the 1st quarter worth approximately $646,000. Finally, Asset Management One Co. Ltd. grew its holdings in Unum Group by 88.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 17,302 shares of the financial services provider's stock worth $1,409,000 after acquiring an additional 8,120 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Unum Group Stock Up 0.8%

NYSE UNM traded up $0.58 on Friday, hitting $73.65. 2,680,413 shares of the company were exchanged, compared to its average volume of 1,209,642. The company has a market cap of $12.54 billion, a PE ratio of 8.81, a PEG ratio of 1.24 and a beta of 0.38. Unum Group has a 12 month low of $52.71 and a 12 month high of $84.48. The stock has a fifty day moving average of $74.81 and a 200-day moving average of $77.54. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.31.

Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.16). The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.35 billion. Unum Group had a return on equity of 13.44% and a net margin of 11.77%.The firm's revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.16 earnings per share. Unum Group has set its FY 2025 guidance at 8.500-8.50 EPS. As a group, analysts forecast that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were issued a dividend of $0.46 per share. The ex-dividend date was Friday, July 25th. This is a positive change from Unum Group's previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 2.5%. Unum Group's dividend payout ratio is currently 22.01%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Wells Fargo & Company reduced their price objective on shares of Unum Group from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Barclays set a $96.00 price objective on shares of Unum Group and gave the company an "overweight" rating in a research note on Monday, July 7th. Morgan Stanley reduced their price objective on shares of Unum Group from $85.00 to $79.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. Finally, UBS Group set a $87.00 price objective on shares of Unum Group and gave the company a "neutral" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Unum Group presently has an average rating of "Moderate Buy" and an average price target of $91.15.

Unum Group Profile

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. The company offers group long-term and short-term disability, group life, and accidental death and dismemberment products; supplemental and voluntary products, such as individual disability, voluntary benefits, and dental and vision products; and accident, sickness, disability, life, and cancer and critical illness products.